Under the deal, announced today, Turner will oversee sales, marketing, operations and customer service for the BIAM product. Turner manages $8 billion in mutual funds and separately managed accounts.

"Our clients and sponsors in this arena have been asking for a strong, international equity investment strategy, and we had been looking for a way to deliver this capability that wouldnt interfere with our current investment management teams nor jeopardize our independence," Turner President Stephen Kneeley said in a statement.

Likewise, Denis Curran, president of BIAMs international business, said that his firm has been "interested in getting into the managed accounts market for quite some time."

He said the alliance is ideal because BIAM will "focus on delivering our international investment expertise to a new group of clients while Turner provides the all-important sales, servicing and operational backup."